https://www.taxtmi.com/caselaws?id=405594 Where the corporate insolvency resolution process produced no resolution plan or expression of interest and the Committee of Creditors unanimously resolved to liquidate, the Tribunal applied Section 33 of the Insolvency and Bankruptcy Code, 2016 and ordered liquidation of the corporate debtor. It treated the absence of a specific resolution on contribution towards CIRP or liquidation costs as a curable procedural lapse and waived it for this case. The Resolution Professional was appointed as Liquidator, and the statutory incidents of liquidation followed, including cessation of moratorium, vesting of management powers in the Liquidator, and restrictions on proceedings and asset recovery. en-us Wed, 03 Mar 2021 00:00:00 +0530 Wed, 24 Mar 2021 09:06:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405594 Where the corporate insolvency resolution process produced no resolution plan or expression of interest and the Committee of Creditors unanimously resolved to liquidate, the Tribunal applied Section 33 of the Insolvency and Bankruptcy Code, 2016 and ordered liquidation of the corporate debtor. It treated the absence of a specific resolution on contribution towards CIRP or liquidation costs as a curable procedural lapse and waived it for this case. The Resolution Professional was appointed as Liquidator, and the statutory incidents of liquidation followed, including cessation of moratorium, vesting of management powers in the Liquidator, and restrictions on proceedings and asset recovery. Case-Laws Insolvency and Bankruptcy Wed, 03 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405594